Envestnet Asset Management Inc. Sells 1,803 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Envestnet Asset Management Inc. reduced its position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 1.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 103,224 shares of the medical research company's stock after selling 1,803 shares during the period. Envestnet Asset Management Inc. owned 0.37% of Bio-Rad Laboratories worth $25,141,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BIO. Signaturefd LLC increased its position in Bio-Rad Laboratories by 13.2% during the 4th quarter. Signaturefd LLC now owns 265 shares of the medical research company's stock worth $87,000 after purchasing an additional 31 shares during the period. Thrivent Financial for Lutherans lifted its stake in Bio-Rad Laboratories by 0.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 4,530 shares of the medical research company's stock valued at $1,488,000 after buying an additional 32 shares in the last quarter. Picton Mahoney Asset Management lifted its stake in shares of Bio-Rad Laboratories by 55.6% during the 4th quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company's stock worth $32,000 after purchasing an additional 35 shares during the period. Lecap Asset Management Ltd. increased its holdings in shares of Bio-Rad Laboratories by 3.1% during the 1st quarter. Lecap Asset Management Ltd. now owns 1,600 shares of the medical research company's stock worth $390,000 after buying an additional 48 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Bio-Rad Laboratories by 2.5% during the 1st quarter. State of Alaska Department of Revenue now owns 2,254 shares of the medical research company's stock worth $548,000 after buying an additional 55 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BIO has been the topic of several research reports. Wall Street Zen lowered Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Wells Fargo & Company reduced their target price on Bio-Rad Laboratories from $260.00 to $245.00 and set an "equal weight" rating on the stock in a report on Monday, June 9th. Citigroup decreased their target price on Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Royal Bank Of Canada reduced their price objective on Bio-Rad Laboratories from $409.00 to $392.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, UBS Group reduced their price objective on Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $324.25.

Bio-Rad Laboratories Stock Down 1.3%

Shares of Bio-Rad Laboratories stock traded down $3.34 on Friday, hitting $246.31. 250,935 shares of the company traded hands, compared to its average volume of 306,588. The company has a market cap of $6.70 billion, a PE ratio of -3.23 and a beta of 0.95. Bio-Rad Laboratories, Inc. has a 12-month low of $211.43 and a 12-month high of $387.99. The company has a 50-day moving average price of $238.30 and a 200 day moving average price of $266.78. The company has a quick ratio of 4.43, a current ratio of 5.99 and a debt-to-equity ratio of 0.18.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its earnings results on Thursday, May 1st. The medical research company reported $2.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.73 by $0.81. The firm had revenue of $585.40 million during the quarter, compared to analyst estimates of $573.01 million. Bio-Rad Laboratories had a negative net margin of 85.16% and a positive return on equity of 4.32%. The business's revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.30 EPS. Sell-side analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

Bio-Rad Laboratories Profile

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.